President Trump said he will slap more tariffs on imports from China if it doesn't withdraw a retaliatory tariff on U.S. products. Beijing bristled at his latest threat.

Summary

Trump threatened to impose a new 50% tariff on Chinese imports if Beijing does not withdraw its planned 34% retaliatory tariff by April 8.

If enacted, total U.S. tariffs on Chinese goods could reach 104%, further escalating the trade war.

The tariffs would affect $439 billion in imports and could raise annual consumer costs by nearly $3,800.

Economists warn of renewed inflation and recession risks.